All Pensions articles – Page 16
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Article63% say financial knowledge is excellent or above average
Six out of 10 workers (63%) think their financial knowledge is either excellent or above average, according to a new survey.The research of 1,015 UK working adults in employment was carried out by Vital Research for Wealth at Work, and aimed to find out how employees are saving for their ...
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Case StudiesThe benefits on offer at Reed
The benefits on offer at Reed:PensionA group personal pension, with contribution levels based on qualifying earnings. Reed contributes 3% and employees (co-members) contribute 5%. The default scheme uses a salary sacrifice model and co-members are able to enhance their contributions by choosing a fixed amount per period or sacrificing more ...
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Article54% of employees' retirement plans hit by Covid
New data has revealed that more than half (54%) of UK working adults said that the impact of the Covid-19 (Coronavirus) pandemic has affected their plans to retire.According to research carried out by insurance provider Aviva, nearly one in five (18%) respondents feel less secure about their financial future, peaking ...
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ArticleReuters agrees to £310 million pension buy-in
Reuters, an international news organisation owned by Thomson Reuters, has announced that it has agreed to a £310 million full-scheme buy-in transaction for its supplementary pension scheme.The transaction was the agency’s first with financial services company Legal and General Assurance Society, otherwise known as Legal and General, and involved the ...
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ArticleUniversity staff to strike in pensions and pay dispute
Lecturers at as many as 58 UK universities will take part in strike action on 1-3 December in a row over pensions, pay and working conditions.According to the University and College Union (UCU), some staff are striking because of the Universities Superannuation Scheme pension fund, which was put into place ...
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Article37% of female staff do not have workplace pension
New data has revealed that 37% of female employees do not have a workplace pension, compared to 32% of men.Pensions consultancy Barnett Waddingham’s research was compiled based on responses from 2,002 UK working adults, of which 1,022 were women. It found that females are lagging behind men on workplace pensions, ...
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OpinionKirsty Pake: How to solve a problem like pension scams
To quote the Department of Work and Pensions: “pension scams are a menace”. Until now, trustees’ hands were tied where a member had a statutory right to transfer their benefits and, even in cases where the receiving arrangement appeared to be a scam, they were obliged to make the transfer.Regulations ...
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ArticleConfessions of a benefits manager: Candid attends a trustee meeting
If there is one thing guaranteed to put me on a downer, it is going to the quarterly trustee meeting. I was flattered when Big Bad Boss first sent me in his place. The consultants we use for our defined benefit (DB) plan hold the trustee meetings at the Shard, ...
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ArticleKavitha’s keynote: Employers can protect the planet
As this year’s United Nations Climate Change Conference (COP26) continues, now seems like as good a time as any for employers to look at the role they can play in protecting our planet.In recent years, a growing number of industries and businesses have been pledging to reduce their effect on ...
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ArticleFire Brigades Union issues formal letter in pension scheme row
The Fire Brigades Union has issued a formal letter before claim for judicial review proceedings against the UK government due to a dispute over firefighters having to pay a discrimination cost as part of their pension scheme.On 1 April 2012, the courts found that the government’s public sector pension reforms ...
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Case StudiesAscential increases pensions awareness with regular education campaigns
Ascential is a fast-growing global organisation which delivers specialist information, analytics and ecommerce optimisation for consumer brands. It has 2,500-plus employees worldwide, of which just under 1,000 are in the UK.More than 85% of current UK employees have taken up its workplace pension with Aviva. Ascential pays from 5% up ...
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AnalysisTop tips for implementing a pensions education exercise
Need to know:Employers need to set goals and measure outcomes of all financial education exercises.They can segment employees and use all available communication channels.Employers should rely on what resonates with their employees rather simply spend big bucks.Pensions can be a bit dry and grey and retirement, particularly to the ...
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OpinionJohn Hebblethwaite: Employees need more pensions education
There has been a seismic shift in the pensions landscape since the launch of automatic enrolment and there are now 15 times as many retirement savers who are members of defined contribution (DC) pension schemes compared with the historically more typical sort of defined benefit (DB) schemes.The Financial Conduct Authority ...
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ArticleJohn Townsend Trust secures £30 million buy-in
John Townsend Trust, a former charity that provided education and care to deaf children and young people, has agreed to a £30 million full scheme buy-in transaction for its pension and assurance scheme.Legal and General Assurance Society, which is part of financial services organisation Legal and General, will be covering ...
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Article34% of firms contribute under 4% to staff pensions
More than a third of UK employers are only contributing the minimum amount towards staff pensions, while some are not contributing at all, according to new findings.The British pension report by Investing Reviews discovered that while 11.7% of organisations contribute 20% or more towards their employees' pensions, 34% put in ...
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ArticleReport calls for more pensions reassurance
Reward and pensions professionals need to put employee communication and reassurance front and centre if they want to maintain engagement when they carry out a pension scheme change consultation, according to a new report.The document, titled Pension change consultation: turning a legal requirement into an engagement opportunity from insurance broker ...
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ArticlePurplebricks faces legal action over pay and pensions
More than 100 workers have announced that they will take legal action against online estate agent organisation Purplebricks as they believe they are entitled to holiday pay and pension contributions.According to Contractors for Justice, which is bringing the claim, more of the 2,500 property agents currently working for Purplebricks might ...
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Article46% of staff aged 35-54 are unaware of their retirement income
New data has revealed that almost half (46%) of employees aged 35-54 do not know how much income their pension will provide them with in retirement.Research by Invesco, Invesco Consulting, Maslansky and partners and Nest Insight looked at how simple changes to the use of language could help workers in ...
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Case StudiesDWF offers staff salary sacrifice pension scheme
DWF is a global provider of integrated legal and business services. It employs approximately 4,000 members of staff and has more than 30 offices across the globe.The firm introduced a salary sacrifice pension scheme in 2013 in line with the UK's auto-enrolment legislation, which enables staff and the business to ...
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OpinionMark Ormston: Key considerations to introducing a salary sacrifice pension scheme
When introducing a salary sacrifice pension scheme, early engagement with payroll is key, as it is vital to involve them as soon as possible in the discussions. An employer may discover the systems or software currently being used have certain limitations or missing functionality to meet desired requirements.Employers should consider ...